Millennium Management LLC Increases Stock Position in Exponent, Inc. $EXPO

Key Points

• Millennium Management LLC boosted its holdings in Exponent, Inc. by 543.1% in Q1, owning approximately 0.60% of the company valued at $24.7 million.
• Exponent's recent earnings report indicated an EPS of $0.52, surpassing estimates, and a 7.3% year-over-year revenue increase to $132.87 million.
• CEO Catherine Corrigan sold 4,896 shares of Exponent stock, decreasing her holdings by 5.68%, while the company also declared a quarterly dividend of $0.30 per share.

Millennium Management LLC raised its position in Exponent, Inc. (NASDAQ:EXPO - Free Report) by 543.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 305,230 shares of the business services provider's stock after purchasing an additional 257,766 shares during the period. Millennium Management LLC owned 0.60% of Exponent worth $24,742,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of EXPO. Cubist Systematic Strategies LLC acquired a new position in Exponent in the first quarter valued at $15,349,000. Geneva Capital Management LLC lifted its stake in Exponent by 11.2% in the first quarter. Geneva Capital Management LLC now owns 1,745,828 shares of the business services provider's stock valued at $141,517,000 after buying an additional 176,152 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Exponent in the first quarter valued at approximately $12,686,000. Nuveen LLC acquired a new position in Exponent in the first quarter valued at approximately $10,828,000. Finally, Jane Street Group LLC lifted its position in shares of Exponent by 1,481.0% during the 1st quarter. Jane Street Group LLC now owns 127,222 shares of the business services provider's stock valued at $10,313,000 after acquiring an additional 119,175 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Buying and Selling

In other Exponent news, CEO Catherine Corrigan sold 4,905 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $69.91, for a total transaction of $342,908.55. Following the transaction, the chief executive officer owned 82,753 shares in the company, valued at approximately $5,785,262.23. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Sala sold 1,595 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $70.64, for a total transaction of $112,670.80. The disclosure for this sale can be found here. Insiders have sold 11,396 shares of company stock worth $803,636 over the last ninety days. 1.60% of the stock is owned by insiders.

Exponent Price Performance

Shares of Exponent stock traded up $0.59 during trading on Wednesday, reaching $70.26. 31,103 shares of the company traded hands, compared to its average volume of 332,611. Exponent, Inc. has a 1-year low of $63.81 and a 1-year high of $115.75. The company has a 50 day moving average price of $71.37 and a 200-day moving average price of $76.00. The firm has a market capitalization of $3.55 billion, a PE ratio of 35.16 and a beta of 0.94.

Exponent (NASDAQ:EXPO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Exponent had a net margin of 18.35% and a return on equity of 24.19%. The firm had revenue of $132.87 million for the quarter, compared to analyst estimates of $130.82 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Exponent, Inc. will post 1.98 earnings per share for the current year.

Exponent Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. Exponent's dividend payout ratio is presently 60.00%.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.